Understanding PF Calculations: Can You Explain How Account Numbers 1, 10, 21, and 22 Work?

Dear Sir,

Please provide information regarding PF account numbers 1, 10, 21, and 22. Could you please give a description of the calculations for these accounts?

Thank you.

Dear Sir, Please provide information regarding PF account numbers 1, 10, 21, and 22. Kindly explain the calculations for these accounts.

PF Account Contributions

A/C NO.1 is for PF, in which the employee contributes 12% of Basic+DA, and the employer contributes 3.67% of Basic. This results in a total contribution of 15.67% in this account.

Pension Account Contributions

A/C NO.10 is for the Pension account, where the employer contributes 8.33%.

EDLI Contributions

A/C NO.21 is for EDLI, where the employer contributes 0.5% of Basic.

Administrative Charges on EDLI

A/C NO.22 is for administrative charges on EDLI, which is 0.01%.

Always note that the Employer Contribution in A/C No. 1 is the difference between the total of 12% and 8.33%, i.e., 3.67%. However, in the case of the deduction of PF on the total salary (Basic + DA) greater than 6500, it would give an amount greater than 3.67% for A/C No. 1 because we can't deposit more than Rs. 541/- in A/C No. 10. Hence, the employer's share in A/C No. 1 will be greater than 3.67% of the salary.

EDLI stands for Employee Deposit Linked Insurance Scheme. In the account number 10 of the pension scheme, the employer only deposits Rs. 541 if the employee's basic and DA is more than Rs. 6,500; otherwise, only 8.33% of the basic and DA will be taken.

Dear,

A/c No. 1 is for PF contribution, including both Employee share and Employer share.

A/c No. 10 is for the Employee Pension Fund (Employer Share).

A/c No. 21 is for EDLI (Employer Share).

A/c No. 22 is for Admin. charges for EDLI (Employer Share).